Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in American Water Works (NYSE:AWK) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 424,239 shares of the utilities provider’s stock after acquiring an additional 53,545 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.24% of American Water Works worth $34,325,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Reaves W H & Co. Inc. raised its position in American Water Works by 0.4% in the third quarter. Reaves W H & Co. Inc. now owns 1,310,087 shares of the utilities provider’s stock worth $105,999,000 after acquiring an additional 5,476 shares during the period. Ameriprise Financial Inc. raised its position in American Water Works by 6.3% in the third quarter. Ameriprise Financial Inc. now owns 1,173,319 shares of the utilities provider’s stock worth $94,991,000 after acquiring an additional 69,366 shares during the period. Commonwealth Equity Services Inc raised its position in American Water Works by 0.6% in the third quarter. Commonwealth Equity Services Inc now owns 99,339 shares of the utilities provider’s stock worth $8,037,000 after acquiring an additional 582 shares during the period. Putnam FL Investment Management Co. bought a new position in American Water Works in the third quarter worth approximately $12,844,000. Finally, Kiwi Wealth Investments Limited Partnership raised its position in American Water Works by 24.8% in the third quarter. Kiwi Wealth Investments Limited Partnership now owns 182,363 shares of the utilities provider’s stock worth $14,755,000 after acquiring an additional 36,244 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.
Several brokerages have recently commented on AWK. Janney Montgomery Scott downgraded shares of American Water Works from a “buy” rating to a “neutral” rating in a research report on Friday, November 3rd. They noted that the move was a valuation call. Robert W. Baird raised their price objective on shares of American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research report on Thursday, November 2nd. Bank of America Corporation began coverage on shares of American Water Works in a research report on Tuesday, October 24th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of American Water Works from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $85.63.
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American Water Works (NYSE AWK) traded down $0.64 on Tuesday, reaching $88.38. 1,081,600 shares of the company traded hands, compared to its average volume of 858,200. The stock has a market capitalization of $15,878.98, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.90 and a beta of 0.25. American Water Works has a 52 week low of $69.96 and a 52 week high of $91.39. The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 1.21.
American Water Works (NYSE:AWK) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. The company had revenue of $936.00 million during the quarter, compared to analysts’ expectations of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. American Water Works’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. analysts anticipate that American Water Works will post 3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a dividend of $0.415 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.66 annualized dividend and a yield of 1.88%. American Water Works’s payout ratio is 56.27%.
In other American Water Works news, COO Walter Lynch sold 5,000 shares of American Water Works stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $89.95, for a total value of $449,750.00. Following the completion of the transaction, the chief operating officer now directly owns 97,667 shares of the company’s stock, valued at approximately $8,785,146.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael A. Sgro sold 841 shares of American Water Works stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $90.03, for a total transaction of $75,715.23. The disclosure for this sale can be found here. Insiders have sold 10,191 shares of company stock valued at $890,337 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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